🌍 Geopolitics and oil
🛢️ Oil is sliding as Trump announced a deal for Russia to supply diesel, and the US Treasury waived sanctions on Russian diesel through April 2027. Brent is trading near $103.9 (–0.8%) and WTI near $90.7 (–1.3%). 🚀 Houthi strikes on Saudi Arabia, including Riyadh’s airport, and the uncertainty around the Iran war keep the supply risk alive.
🇺🇸 Wall Street and the Fed
📈 US stocks closed Friday higher: Dow +0.83%, S&P 500 +0.59% (7,811.5), Nasdaq +0.64%. The S&P 500 is just below its record high after a strong week. 💵 The 10-year Treasury yield finished near 5.25%, close to a 24-year high. 😟 Michigan consumer sentiment fell to 46.3, and 1-year inflation expectations rose to 4.7%.
🌏 Asian markets
🇯🇵 Tokyo is closed for a holiday (Nikkei closed Friday at 69,031).
🇭🇰 Hang Seng +0.07% (24,230)
🇨🇳 Shanghai Composite –0.16% (3,808)
🇰🇷 KOSPI –3.38% (6,402) – tech sell-off, foreign selling and Middle East worries
🇦🇺 ASX 200 +0.76% (8,783)
🇹🇼 Taiex +0.16%
🇮🇳 Nifty 50 –0.48%
💱 Forex, metals and crypto
💶 EUR/USD: 1.1202
💴 USD/JPY: 158.35
💷 GBP/USD: 1.3238
🥇 Gold: ~$4,183 per oz (–0.27%) after three straight sessions of gains
₿ Bitcoin: ~$84,100 (+1.2%)
Ξ Ethereum: ~$2,562 (+2.3%)
📅 Today and this week
🔹 Today: Cleveland Fed’s Hammack speaks. US bond markets are closed for Columbus Day, while stocks trade.
🔹 Tuesday: JPMorgan, Citigroup and Wells Fargo report earnings.
🔹 Wednesday: US September CPI – the key inflation test for the Fed.
🔹 Thursday: UK August GDP.
🔹 This week: China trade and inflation data.
⚠️ Trade with care and manage your risk!
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